Container freight rates recorded a modest increase this week, as rising fuel costs and ongoing uncertainty surrounding the Strait of Hormuz continue to influence pricing across major global trade routes.

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According to Drewry’s World Container Index (WCI), spot rates rose by 1% to $2,309 per 40-foot container. The overall uptick was largely supported by gains on Transpacific and Transatlantic lanes, despite softer performance on Asia–Europe routes.

The most notable movement occurred on the Transatlantic corridor, where rates from Rotterdam to New York surged 25% to $1,968 per container—an unusual spike for a typically stable trade. The increase has been linked to a 13% month-on-month reduction in available capacity for April, tightening supply in the market.

On the Transpacific, upward momentum persisted. Rates from Shanghai to New York climbed 7% to $3,671 per 40-foot container, while Shanghai to Los Angeles increased 9% to $2,910. Shipping lines are also pushing for further rate hikes, pointing to escalating operating costs tied to instability in the Middle East.

In response to surging fuel expenses, A.P. Moller–Maersk is seeking regulatory approval in the United States to implement an emergency bunker surcharge without adhering to the usual 30-day notice period. The proposed charges—$200 per TEU on head-haul cargo and $100 on backhaul—underscore how rapidly fuel market volatility is feeding into freight pricing.

Meanwhile, Asia–Europe rates moved downward. Shanghai–Genoa declined by 3% to $3,420, while Shanghai–Rotterdam dropped 9% to $2,308. Capacity on this route remains relatively balanced, with minimal disruption expected in the near term.

The broader market outlook remains heavily influenced by the uncertain situation in the Strait of Hormuz. Although a temporary two-week ceasefire has enabled limited vessel movement, operations are still subject to strict controls. Ships transiting the region must coordinate closely with Iranian authorities, with unclear procedures and reports of possible transit fees adding complexity.

As a result, carriers are focusing on clearing vessels already stranded within the Persian Gulf rather than deploying additional capacity into the region.

At the same time, disruptions to oil flows—around 20% of global supply typically passes through the strait—are tightening bunker fuel availability. This constraint is increasingly feeding into shipping costs, with analysts warning that elevated fuel prices and ongoing geopolitical uncertainty could keep freight rates on an upward trajectory in the coming weeks.